Cummins Inc. (CMI) Receives Average Recommendation of “Hold” from Brokerages

Shares of Cummins Inc. (NYSE:CMI) have been assigned a consensus recommendation of “Hold” from the twenty-two analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $162.84.

Several equities analysts have commented on the company. Citigroup upgraded Cummins from a “neutral” rating to a “buy” rating and increased their target price for the company from $155.00 to $190.00 in a research report on Tuesday. Zacks Investment Research downgraded Cummins from a “hold” rating to a “sell” rating in a research report on Thursday, January 24th. Piper Jaffray Companies set a $195.00 price target on Cummins and gave the company a “buy” rating in a research note on Thursday, April 4th. Oppenheimer cut Cummins from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 7th. Finally, Buckingham Research increased their price target on Cummins from $160.00 to $172.00 and gave the company a “neutral” rating in a research note on Tuesday.

In related news, VP Tracy A. Embree sold 206 shares of Cummins stock in a transaction that occurred on Wednesday, February 6th. The stock was sold at an average price of $150.00, for a total transaction of $30,900.00. Following the transaction, the vice president now owns 4,221 shares of the company’s stock, valued at $633,150. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Srikanth Padmanabhan sold 1,687 shares of Cummins stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $160.00, for a total value of $269,920.00. The disclosure for this sale can be found here. Insiders have sold 6,816 shares of company stock valued at $1,039,321 in the last ninety days. 0.95% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of CMI. Oregon Public Employees Retirement Fund lifted its position in shares of Cummins by 12,091.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,411,147 shares of the company’s stock valued at $93,000 after buying an additional 12,309,348 shares during the last quarter. Ronna Sue Cohen lifted its position in shares of Cummins by 16,590.4% during the 1st quarter. Ronna Sue Cohen now owns 2,152,730 shares of the company’s stock valued at $2,153,000 after buying an additional 2,139,832 shares during the last quarter. Norges Bank purchased a new position in shares of Cummins during the 4th quarter valued at $232,262,000. Parnassus Investments CA lifted its position in shares of Cummins by 76.5% during the 4th quarter. Parnassus Investments CA now owns 1,500,000 shares of the company’s stock valued at $200,460,000 after buying an additional 650,000 shares during the last quarter. Finally, Bank of Nova Scotia lifted its position in shares of Cummins by 1,826.7% during the 4th quarter. Bank of Nova Scotia now owns 600,989 shares of the company’s stock valued at $80,314,000 after buying an additional 569,797 shares during the last quarter. 82.08% of the stock is currently owned by institutional investors and hedge funds.

Cummins stock traded down $1.26 during trading hours on Wednesday, hitting $165.96. The stock had a trading volume of 817,799 shares, compared to its average volume of 1,298,669. The company has a current ratio of 1.54, a quick ratio of 0.95 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $26.36 billion, a PE ratio of 12.54, a P/E/G ratio of 1.14 and a beta of 1.09. Cummins has a one year low of $124.40 and a one year high of $172.08.

Cummins (NYSE:CMI) last posted its earnings results on Wednesday, February 6th. The company reported $3.48 EPS for the quarter, missing the consensus estimate of $3.81 by ($0.33). The firm had revenue of $6.13 billion during the quarter, compared to the consensus estimate of $6.08 billion. Cummins had a net margin of 9.01% and a return on equity of 29.71%. Cummins’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.03 earnings per share. As a group, analysts predict that Cummins will post 15.47 earnings per share for the current fiscal year.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins and other customer brands for the heavy-and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets.

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Analyst Recommendations for Cummins (NYSE:CMI)

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